: Microsoft tried to buy Pinterest in recent months: report

This post was originally published on this site

Microsoft Corp. made overtures to buy Pinterest Inc. in recent months, the Financial Times reported Wednesday night.

The acquisition talks are not currently active, the FT reported, adding that in the past Pinterest has signaled its preference to remain an independent company. The FT reported that Microsoft’s acquisition strategy is targeting active online communities that it can pair with its cloud platform.

Pinterest PINS, +2.15% has a current market valuation of about $50 billion, bolstered by a 36% rise in its shares over the past three months. The online-pinboard platform has boomed during the pandemic, as users have had more time on their hands. Over the past 12 months, Pinterest shares are up 239%.

Last week, Pinterest reported it added 100 million new users in 2020, and posted 76% growth in year-over-year quarterly revenue.

A deal would have likely been Microsoft’s largest acquisition ever, about twice as big as its $26 billion purchase of LinkedIn in 2016, but also likely would have drawn scrutiny by antitrust regulators.

Microsoft shares MSFT, -0.39% are up 9% year to date, and up 31% over the past year, compared to a 6% annual gain by the Dow Jones Industrial Average DJIA, +0.20%, of which it is a component.

Add Comment